The Kuala Lumpur Sessions Court recently convicted Pixelvest Sdn Bhd (Pixelvest) and its director Ang Jen Chuen (Dexter Ang) for offences relating to unlicensed capital market activities. Dexter Ang was previously convicted for money laundering on 28 July 2025.
Pixelvest, represented by Dexter Ang, pleaded guilty to one charge under section 58(1) of the Capital Markets and Services Act 2007 (CMSA) for carrying out a business in fund management without a licence. Pixelvest was fined RM3 million by Sessions Court Judge Puan Siti Shakirah binti Dato' Wira Mohtarudin.
Dexter Ang also pleaded guilty to one charge under section 58(1) of the CMSA in his capacity as director of Pixelvest. He was sentenced to three years’ imprisonment, to run from the date of his arrest on 10 January 2024.
On 28 July 2025, Dexter Ang pleaded guilty to eight charges of receiving proceeds of unlawful activity under section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA) before Sessions Court Judge Puan Norma binti Ismail. He was sentenced to three years imprisonment for each offence from the date of arrest on 10 January 2024. The court ordered for the jail terms for all eight charges to run concurrently.
The offences committed by Pixelvest and Dexter Ang took place in Kuala Lumpur and Selangor between December 2020 and January 2023.
Dexter Ang was arrested and charged by the SC on 10 January 2024 for the offences under the AMLATFPUAA, and thereafter on 26 February 2024 for the offence under the CMSA. Pixelvest was charged on 10 May 2024. Both had claimed trial to all the charges initially.
Fund management is a regulated activity and any person carrying on a fund management business requires a licence from the SC under the CMSA. The SC views unlicensed activities seriously and remains committed to investor protection by taking enforcement actions against those who contravene the law.
Investors are reminded to check the SC’s Investor Alert List, which is constantly updated, on suspicious companies or individuals that may be carrying out unlicensed capital market activities or scams.
